A government regulation No. 9, 2016 increases the locations where tax incentives are available for investments. According to this regulation, tax incentives previously either not available or limited to investments in certain regions and are being available for the apparel industry and for the leather and footwear sector in all regions. There are no changes to the tax incentives themselves. Accordingly, the incentives including a 30% deduction of the amount of capital investment in tangible fixed assets (including land), accelerated method for depreciation, a 10% rate of withholding tax on dividends paid to foreign taxpayers, and expanded use of tax loss carry forwards to 10 years instead of five years.
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